[David] Let’s move over to Alice. Good to have you here, Alice Alvey as always been here since the beginning. What you have for a legislative update sister?
[Alice] We have talked a lot about what I was gonna talk about in all of our commentary segments. So those of you who are listening to this week’s show, make sure you click on the commentary link to go listen to all of all of what we talked about. What I’ll just sum up with here on the legislative front is I am spending some time going through and listening to the testimony that was done with the Committee of Financial Services is the oversight of HUD and FHA hearing where Scott Turner was testifying. For those of you who don’t ever listen to those and don’t ever turn on C-SPAN radio, which you probably the vast bath majority that long drive down to Tennessee, I will sit and listen to those testimonies to hear. They’re fascinating. You learn a lot about the congressional people who are on the committees as well as about that person and their ability to respond under pressure. So I’m still working my way through that to and I’ll report back next week on anything I hear out of that. But the housing for 21st Century Act does keep coming up. That’s HR 6644. The Senate did pass their related bill, their road act the road to Housing Act that was renumbered at Senate Bill 2296. It was passed within the National Defense Act. So this is one of those bills that we’ve talked about that. Has great ideas, but we’re not sure what the implementation would look like. Yeah. What the funding of it might look like. So I wanted to listen to the testimony to see if there were any hints in there of that possibly being able to move forward. But they do a lot of finger pointing in those types of hearings on whose fault all that is. So I think I just wanted to let everyone know, we’ll continue to watch that legislation to see if it moves forward. Right now we’re still waiting for the two version for the house to actually pass a version, and then those will have to get reconciled between the two and we’ll talk more about that at the time. But the other thing was the MBA’s letter and the push, I think like you’ve heard about us, talk about on, there is an executive order to instruct curbing investor purchases of mortgages that needs a lot of conversation around it and what does that actually really look like without forgetting how valuable investors can be on some products, and especially in the foreclosure and the scratch and dent business of this business. Maxine Waters reminded us of the bill of the prior Homebuyer First Look program that’s supposed to be out there where if you have an investor loan in foreclosure, or any loan that goes into foreclosure at HUD, it’s supposed to get looked at and let a individual buy it first before the loans get packaged and sent out to investors. And I went, oh yeah, that’s one more thing to think about if you say we’re going to try and exclude investors from the home buying market and Dave, I think you mentioned earlier on the show, it’s a small portion of the overall market. So what impact is it ultimately going to have in the overall change of affordability? So those are the things I’m watching right now, and I’ll report back.
[David] Yeah. Good. Very good. Very good. Thank you. Alice Alvey
Alice Alvey, Master CMB
She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.
Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.
She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.
Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!